Should I be with someone with bad credit?

Is it a bad idea to marry someone with bad credit?

Marrying a person with a bad credit history won’t affect your own credit record. You and your spouse will continue to have separate credit reports after you marry. However, any debts that you take on jointly will be reported on both your and your spouse’s credit reports.

Is bad credit a deal breaker in a relationship?

“From my perspective, bad credit shouldn’t be an absolute dealbreaker,” said Schultz. … Schultz said research suggests that people with higher credit scores are more likely to form and stay in long-term relationships and that couples with credit scores around the same level are more likely to stay together long-term.

Does living with someone with bad credit affect mine?

Generally speaking, who you live with will not affect your credit score, unless you are financially linked to them. … This means that, so long as you keep these separate, who you live with will not affect your credit rating.

What can happen if you or your partner has a poor credit score?

If your spouse has a bad credit score, it will not affect your credit score. However, when you apply for loans together, like mortgages, lenders will look at both your scores. If one of you has a poor credit score, it counts against you both. You may not qualify for the best interest rates or the loan could be denied.

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Will my debt affect my husband?

In common law states, debt taken on after marriage is usually treated as being separate and belonging only to the spouse who incurred them. The exception are those debts that are in the spouse’s name only but benefit both partners.

Can I use my wife’s credit to buy a car?

The only time an applicant’s spouse would have their credit checked for a car financing loan is if they are named on the application. … They can apply for the car loan together, only one spouse can apply, or either of those options can be used with the assistance of a third-party cosigner.

Should you date someone with debt?

It’s OK To Talk Debt Early In The Relationship — But Do It Strategically. Whenever we go on those first few dates, we should be trying to determine not just if we “click” with our match, but also, experts say, if they’re responsible, emotionally mature, and honest. According to psychologist Yvonne Thomas, Ph.

Is credit card debt a red flag?

Most people are OK with certain types of loans, but large amounts of credit card debt are a red flag, according to a recent report.

Can a house be blacklisted for credit?

Can an address be blacklisted? No – not even if the people who lived there before you had multiple debts and were on shaky financial ground. It doesn’t matter who lived at your address in the past – their financial mistakes won’t be linked to you just because you live in the same house or flat.

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Will my partner’s bad credit affect me getting a mortgage?

Deciding to apply for a joint mortgage depends on which option will get you the best mortgage. On one hand, including the partner with bad credit could disqualify you for a loan. Even if you do qualify for a mortgage when one partner has bad credit, you might not qualify for a good interest rate.

Does my daughter’s debt affect me?

Legally, if your child gets into debt, they are solely responsible for that debt unless you have co-signed the loan or credit agreement. … If your child is over the age of 18 and has incurred their own debt, they and they alone will be required to pay it back.